President Obama Signs 21st Century Cures Act into LawAngie Godinez
We are pleased to announce that President Obama signed the 21st Century Cures Act into law, authorizing $6.3 billion in funding. In an emotional signing that is likely to be the last of his presidency, President Obama stated, “Let’s make American the country to solve cancer.”
Previously, the bill was approved 392-26 by the House of Representatives and 94-5 in the U.S. Senate.
Importantly, the bill puts the U.S. on the same playing field as many other developed countries, including those in the European Union and Japan, which already have accelerated regulatory pathways for regenerative therapies. The initiative will support President Obama’s cancer “moonshot,” Alzheimer’s research, and efforts to address opioid addiction.
The act authorizes up to $500M for the U.S. Food and Drug Administration to assist with regulatory support and provides National Institutes of Health funding for high-risk, high-reward research, as well as research conducted by early stage investigators.